Archives for February 2016

Upgrades to Increase the Value and Appeal of Homes for Sale in Los Angeles

Have you noticed? Sometimes it’s the details that set homes for sale in Los Angeles apart from another and make it more desirable.

Those appealing details can:

Increase the selling price

Cause the home to sell faster

Here are several upgrades that will make your house more attractive to potential buyers – each costing less than $500. (Unless you’re a do-it-yourselfer, add the cost of installation):

Repaint or Replace the front door and/or entry hardware.

Since your front entry is the first thing buyers see when they approach the house, it makes the first impression. Doors come in a wide range of styles and prices, with a good variety available for less than $300. Keyed entry hardware comes in some eye-catching styles for under $150, and you can upgrade to a keyless (digital) entry for less than $200.

Replace the light fixture at your front entry.

If you’ve still got one of those old round-glass bug-catchers, replace it with something classy for under $50.

Install a programmable thermostat

Most people are energy conscious these days, so a programmable thermostat has great appeal. Tech-smart buyers will especially like a Wi-Fi enabled thermostat that allows them to control the temperature from their car or office. 7-day programmable thermostats with Wi-Fi run between $100 and $200.

Upgrade the fixtures and hardware in kitchen or bath.

You may not be able to afford new cabinetry in the kitchen or bath, but you can give the existing cabinets a new, fresh look with new door and drawer pulls, and new faucets will definitely set you apart from the other homes for sale in Los Angeles.

Consider replacing your kitchen faucet with one of the new models with a spray head – it’s a convenience most love, and you’ll find a good selection for less than $150. If you want to make an even bigger impression – replace the old sink with one that has no wear marks. These are also available for under $200.

Bathroom vanity faucets run from $30 to as much as $300 for designer styles.

Lighting fixtures are also inexpensive and can give a whole new look to a room. You can replace that dated “round bulb” light bar over the bathroom vanity with a stylish fixture for less than $100.

Replace the toilet – or just the seat.

If you’ve scrubbed the old toilet so many times that it never quite sparkles, consider replacing it. New toilets run from $100 to $300, while replacement toilet seats cost less than $30.

If you’re handy, you could make every improvement mentioned here for an investment of less than $1,300. Would it be worth it to cause your home to sell faster, and for more money?

When you’re getting ready to make upgrades prior to selling and wondering where you should spend your dollars, give me a call. I’ll be glad to share my knowledge of our local market and tell you what today’s buyers of homes for sale in Los Angeles want most.

Looking for Beverly Hills Homes This Year? Pay Attention to These Details

When searching for Beverly Hills homes your first considerations are probably size, price, and condition of the house. Then you want to be sure of being in a neighborhood where you’ll feel relatively safe and where the other homes around you show pride of ownership.

The next thing you should consider as you begin the search for Beverly Hills homes is the location with regard to your work, school, hobbies, friends, and relatives. It’s no fun to own a home you seldom get to enjoy because you’re spending your time (and money) on the road.

The schools need to be a consideration if the house and the neighborhood would naturally attract families with school-age children. Look into their quality and reputation even if you have no children yourself, because it will matter if the day comes when you want to sell.

Once you know where you want to live, what you want to spend, and how large (or small) your new home must be, it’s time to look inside and find the floor plan and amenities that tell you “This is my Beverly Hills Homes“.

Four points that can add or detract from your enjoyment of your new home, but that are often overlooked, are:

The neighbors: Although you may be limited for time when the market is hot, it would be wise to at least introduce yourself to a neighbor or two and ask a few questions about the neighborhood. You’ll get a good feel for the friendliness – or lack of it.

The closet and storage space: It’s easy to get carried away by a beautiful kitchen, a luxurious bath, or a panoramic view and forget to notice if there will be room for all of your clothes and/or storage space for your seasonal items.

The location of the laundry: If the bedrooms are on the 2nd floor and the laundry room is in the basement, you might soon get tired of lugging laundry baskets up and down those stairs.

For pet lovers the 4th point might be even more important than the others: having a convenient spot for the dogs’ and cats’ food and water dishes. If they’re always in the way, they’ll always be getting kicked and spilled – and we all know it’s no fun to keep stepping in puddles of water in your stocking feet.

One more thing: The home you live in right now probably has one or two little faults that never cease to annoy you, even while they don’t annoy anyone else. Make note of those, too – so you can make sure that when you are looking for Beverly hills homes, it doesn’t have them!

Thinking of a Mortgage Loan? Beware of Misleading Ads

When you’re planning to buy a Beverly Hills home or thinking of refinancing the home you own, beware of lenders making false promises.

While Mortgage loan rates are hovering right at 4% for fixed-rate 30-year mortgage loans, some lenders are promising fixed rates as low as 3%.

The problem is – they’re a lie – at least in terms of what you probably understand the term “fixed rate” to mean.

Should you take the time and trouble to read every line of their fine print, you’d learn that the fixed rate is only for a fixed number of months – and that number could be as low as 6! After that, the rate is adjustable, and could almost immediately go to 5%, or even higher.

We’ve even heard stories about mortgage loan lenders who put things in the fine print stating that borrowers waive their right to fight foreclosure or to sue the mortgage servicer.

Meanwhile, these same crooked lenders persuade borrowers to feel secure by inviting them to read the fine print. And it works – buyers assume that since the lender wants them to read that fine print, it must not be hiding anything. That’s one reason why people don’t take the time to read.

The other is that when they say “fine print” they mean fine print. Last year the Consumer Financial Protection Bureau conducted a focus group on mortgage advertising – and very few of the participants were able to read the fine print without the aid of a magnifying glass.

How can you protect yourself?

The safest way to obtain a mortgage loan is to deal with a local lender who offers today’s going rates. Choose someone who is well-known here in Beverly Hills, and who has a reputation to protect. If possible, get a referral from your REALTOR®, or perhaps from your attorney or accountant.

If you’ve chosen to borrow from someone who isn’t well known to your trusted professionals, demand a copy of your closing documents a day or two ahead of closing – and then take the time to actually read them, even if it requires use of a magnifying glass. Look for things like an adjustable rate – or a due on sale clause –or any waiver of your rights.

If you find anything suspicious, take it to your attorney and don’t close on the loan unless he or she gives an OK.

Isn’t this illegal?

Yes, bait and switch is illegal. False advertising is illegal. Consumer watchdogs and government agencies such as the Federal Trade Commission are going after lenders who use misleading advertising and small print to fool consumers. However, they haven’t managed to stop all mortgage loan scams, and the deceptive practices are still rampant

You still need to use due diligence in protecting your own interests.

When you need a referral to a reputable lender here in Beverly Hills call me. I’ll be happy to share my list of lenders who have served my clients well.